UK-based Arlington Advisors, which advises Jersey-based Arlington Investors, said it bought a portfolio from Fusion Students for more than £232m and an additional property from an unnamed private investor.

The five assets sold by Fusion Students, known as The Stellar Portfolio, encompass 1,857 beds in Newcastle, Nottingham, Cardiff and Bristol. They are operated by Collegiate AC.

The price paid for the additional Merlin Heights property in Leicester was not disclosed. The asset, recently built by Watkin Jones, has 601 beds and is operated by Fresh Student Living.

The acquisition adds 2,458 beds to Arlington’s purpose-built student housing portfolio, which now stands at 12,700 beds. Arlington said it was now the largest indepently-owned and sixth largest overall student accommodation platform in the UK.